State Street Correlations

Preferred Stocks . USA . 
Preferred Stock . State Street
STT-PG Preferred Stock  USD 22.47  0.02  0.09%   
The current 90-days correlation between State Street and KeyCorp is 0.35 (i.e., Weak diversification). The correlation of State Street is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

State Street Correlation With Market

Weak diversification

The correlation between State Street and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to State Street could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace State Street when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back State Street - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling State Street to buy it.

Moving together with State Preferred Stock

  0.73DHIL Diamond Hill InvestmentPairCorr
  0.61BK Bank of New YorkPairCorr
  0.72BN Brookfield CorpPairCorr
  0.81BX Blackstone Group Normal TradingPairCorr
  0.74CG Carlyle Group Earnings Call This WeekPairCorr
  0.73WT WisdomTreePairCorr
  0.67VCTR Victory Capital Holdings Normal TradingPairCorr
  0.75VRTS Virtus Investment Earnings Call This WeekPairCorr
  0.73FDUS Fidus Investment CorpPairCorr
  0.73AMG Affiliated ManagersPairCorr
  0.64AMP Ameriprise Financial Earnings Call This WeekPairCorr
  0.75APO Apollo Global ManagementPairCorr
  0.62BAM Brookfield Asset Man Normal TradingPairCorr
  0.66BEN Franklin ResourcesPairCorr
  0.75BLK BlackRockPairCorr
  0.74FHI Federated Investors Earnings Call This WeekPairCorr
  0.71FSK FS KKR CapitalPairCorr
  0.8IVZ Invesco Plc Earnings Call TomorrowPairCorr
  0.72JHG Janus Henderson GroupPairCorr
  0.78KKR KKR Co LP Normal TradingPairCorr

Moving against State Preferred Stock

  0.32GCMGW GCM GrosvenorPairCorr
  0.45CWD CaliberCos Class APairCorr
  0.36BCG Binah Capital Group,PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between State Preferred Stock performing well and State Street Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze State Street's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in State Street without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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State Street Corporate Management

Francisco SilvaExec AdvisorProfile
Brian FranzChief VPProfile
Aunoy BanerjeeHead VPProfile
Michael RichardsExec OfficerProfile
Andrew EricksonChief VPProfile
Ronald OHanleyChairman CEOProfile
Andrew ZitneyEx ServicesProfile
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